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The Forum > Article Comments > The RBA versus the lucky country > Comments

The RBA versus the lucky country : Comments

By Michael Knox, published 27/11/2023

The Australian terms of trade, calculated by dividing export prices by import prices, are still higher than during the resource boom earlier this century.

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Increasing absolute GDP is a false metric if per capita GDP is declining. I'd prefer a smaller population like Switzerland that is individually wealthier. Apart from the immigration boost to absolute GDP another danger is the fragility of dependence on commodity exports. Buyers of coal and LNG could finally decide to phase them out. Lithium could be substituted by something cheaper. China could get iron ore from Africa. No doubt the coal protesters at Newcastle still want pointless referendums but haven't suggested how to pay for them in a low export economy.

My fear is that it is all going to go wrong suddenly. Australia will be stuck with a growing under-serviced population, adverse climate, expensive energy and shunned commodity exports.
Posted by Taswegian, Monday, 27 November 2023 8:00:09 AM
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Cut immigration.
Cut government spending.
Stop Net Zero.
Use coal and gas.
Get rid of compulsory voting and preferential voting.
Get out of the United Nations.
Posted by ttbn, Monday, 27 November 2023 8:12:39 AM
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Ttbn,
Mass indoctrination won’t permit common sense to get a foot in the door !
Posted by Indyvidual, Monday, 27 November 2023 8:35:36 AM
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This is because as in the past, the energy export boom has been squandered by a government trying to buy the next election. AS for being the lucky country? that only applies to folks with loads of cash!

We do not have a two-tiered health system, but a three tiered one. I learned a few days ago that if you are currently an inpatient in a Queensland public hospital. Your radiation treatment is paid by Queensland health.

Whereas folks like me, an 80-year-old pensioner, living in a wheelchair, with a fractured hip and spine. and failing kidneys, to mention some of my current health issues, have to find thousands out of pocket, weekly, to get the cancer therapy and even then, have to pay for motel accommodation.

I may get a Medicare refund, but still waiting!
Alan B.
Posted by Alan B., Monday, 27 November 2023 9:10:32 AM
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What Taswegian says.
Alan B.
Posted by Alan B., Monday, 27 November 2023 9:13:20 AM
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I just had radiation for free Alan, as an out patient. 3 sessions, Friday Tuesday & Thursday. It is not expected to cure me, just slow the spread a bit. It took them some time to make up their mind about doing it, as it is not a cure, but finally decided it would be helpful enough to bother.

Well not quite free with a 75K drive each way, & damn expensive parking when you get there, but no charge definitely.

Perhaps you've upset someone, or the treatment would be useless. They have me booked in for a cat scan in February to help them learn about the spread of my bladder cancer. The doctor told us it was more for their learning as they can't do much useful for me.

She did embarrass herself when she asked us to let them know if I die in the meanwhile. She was really quite nice, & I felt sorry for her having to say there was nothing they could do.
Posted by Hasbeen, Monday, 27 November 2023 2:22:34 PM
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